About 200 PIPs price falls and the expected turnaround time 4-6 weeks
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Trading position is managed to risk free by placing stop loss at entry rate, and the trade will be hold to target and/or to be closed by "tranche" as considered to be feasible
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I still target 0.6250 with multiple short trade tranches
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Short trade still active to target
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The CHF, JPY and EUR carry traders are carrying the NZD by driving the NZDCHF, NZDCHF and NZDEUR to upward and to slower the NZDUSD to downward.
However, their carry trading activity less likely will push NZDUSD to revisit the current upper ceiling 0.6950
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The AUDUSD and NZDUSD hammered down by their interest rate differentials to USD. It is expected to be followed by the GBPUSD and EURUSD to downward by their interest rate differentials to USD, and USDCAD, USDJPY and USDCHF to upward by their interestt rate differentials to USD.
At such, the current short/sell of NDUSD, AUDUSD, GBPUSD, EURUSD and the long/buy on the USDCAD, USDJPY and USDCHF will resume to follow their medium term exchange rate target zone trends.
However, risk remains to be seen from JPY and CHF carry traders but at lesser impacts on the prices.